Schroder Investment Management Group cut its position in MetLife, Inc. (NYSE:MET) by 79.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 372,591 shares of the financial services provider’s stock after selling 1,477,084 shares during the quarter. Schroder Investment Management Group’s holdings in MetLife were worth $20,514,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MET. BlackRock Inc. boosted its stake in MetLife by 3,323.3% in the 1st quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after purchasing an additional 66,475,603 shares during the period. Vanguard Group Inc. boosted its stake in MetLife by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock valued at $3,452,559,000 after purchasing an additional 1,885,246 shares during the period. TD Asset Management Inc. boosted its stake in MetLife by 47.7% in the 2nd quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock valued at $285,756,000 after purchasing an additional 1,679,740 shares during the period. Renaissance Technologies LLC bought a new stake in MetLife in the 1st quarter valued at $82,954,000. Finally, Prudential Financial Inc. boosted its stake in MetLife by 71.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock valued at $201,778,000 after purchasing an additional 1,529,570 shares during the period. Institutional investors and hedge funds own 74.14% of the company’s stock.
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Shares of MetLife, Inc. (NYSE:MET) opened at 50.13 on Thursday. The firm has a 50 day moving average price of $47.80 and a 200-day moving average price of $47.30. The company has a market cap of $53.28 billion, a price-to-earnings ratio of 589.76 and a beta of 1.44. MetLife, Inc. has a 52-week low of $38.17 and a 52-week high of $51.77.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share. Equities research analysts anticipate that MetLife, Inc. will post $4.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.19%. MetLife’s dividend payout ratio is currently 1,777.98%.
Several brokerages have weighed in on MET. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 price objective on shares of MetLife in a report on Wednesday, July 12th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $53.00 price objective (down from $64.00) on shares of MetLife in a report on Monday, August 28th. Argus dropped their price objective on MetLife from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Finally, Citigroup Inc. set a $51.00 price objective on MetLife and gave the company a “sell” rating in a report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.95.
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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